Best Strategy for a NEW INVESTOR

[Isaac Nikoro]

Hi Bigger Pockets Family

My name is Isaac, a mechanical Engineer by trade in the Grand Rapids MI Region, I'm looking to start building my portfolio in real estate but looking for the best strategic for a young investor standpoint. I'm not scared of taking risk, i will like to connect with fellow investors and agents for the best advise, and also build my team. I have done a lot of research for the Brrrr method, Apartments, buy and hold, rental and wholesaling. Those 5 strategies are what I'm seriously considering, all good in my opinion just need to make the right choice for my first.

PLEASE ADVICE

[Michael Paling]

Hey Isaac, 

I think we'd need to know a little more about your life sittuation before giving great advice. House hacking is by far the most commonly advised way for new investors to get started. Depending on what kind of loans you qualify for, you could find something that requires between 0 and 5% for downpayments. It also gives you the time to learn how to be a landlord and teach yourself rehab skills. 

If you're short on capital, then wholesaling might be a good option, but I've never done it and not qualified to provide much advice there. 

If you haven't done any deals yet, it might be best to avoid BRRR's and Flips at the moment due to the potential for market declines, unless you're confident you have a screaming deal (and you can get feedback on your numbers).

It's really going to come down to you and your life situation. Choose one strategy right now and stick with it. No shiny object syndrome. The best thing you can do is start making connections with local investors, getting yourself out looking at and analyzing deals and then making offers. Small consistent actions will make a huge impact long-term.